Steamboat Springs, CO Real Estate News

By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
    Eagle Ridge Townhomes in Steamboat are a luxury condo and townhome development located only 200 meters from the gondola, allowing you to easily walk or jump on the shuttle each morning to hit the slopes. The complex is managed by the team at Steamboat Resorts. They provide excellent service to owners and guests plus they work hard to maintain the value of your investment in Steamboat.     Eagle Ridge Lodge offers 35 condominiums, “designed to capture the intimate appeal of a cozy, Colorado ski lodge.” Both the townhomes and condos are designed with the warmth and beauty of the Rocky Mountain lifestyle in mind.     One of the best developments for sales in 2008-9, Eagle Ridge currently, 4 townhomes are available ranging from $1.05-$1.699. With an open house today, March 10th, 2010 fr...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
The Denver Post published an article yesterday describing the newly built and affordable units at First Tracks, a ski-in/ski-out location in Wildhorse Meadows. Originally deed restricted units, these condos have since moved to the open market. Currently available at $179,000 for a studio and $250,000 for a 1 bedroom apartment, these condos provide you with the opportunity to be a gondola ride away from the slopes at a reasonable price. For more information about the condos in First Tracks shoot me an email at Jon@mybrokers.com
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
I have been lost in the Olympic fog for the past two weeks. As our boys and girls  from home impressed the world, we all got a little caught up in just how cool it was for the nordic combined team and others to have such deep Steamboat roots. Have to say, after having watched the olympic trials here in December for nordic combined, moguls and aerials it was pretty amazing to see these folks again going for the medals.  Looks like a welcome is planned for first week in April, so make plans and get to Steamboat for the celebration! If you haven't had enough, here are more articles about the Olympics and the Steamboat connection:  Group planning an Olympic-sized welcome for athletes  http://www2.steamboatpilot.com/news/2010/mar/02/group-planning-olympic-sized-welcome-athletes/ Nordic combi...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
After it was said that Intrawest was to go for auction in the middle of the Olympics, which have come and past, Fortress has fronted $150 million to maintain ownership of the company. Under this plan there will most likely be some major restructuring the remaining $1.2 billion in debt.  For more information and details about the recent Intrawest purchase see Steamboat Homes Blog - Fortress Set to Maintain Intrawest or email me at jon@mybrokers.com
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
The Highmark condominium project is set to auction off 15 unsold units on March 12th. Highmark is a luxury ski-in/ski-out condominium in Steamboat Springs that features ’slate entries, sandstone fireplaces, coffered ceilings, hardwood floors, French doors, extensive moldings, large balconies and theater systems with surround sound — many with views of the Steamboat Ski Area.’ The auction will be an opportunity for this beautiful community to begin again after its short, but troubled history. With the beautiful interior finishes and great location, this development is sure to be a great location in years to come. For a more in-depth analysis of Highmark and the apporaching auction, check out - Steamboat Homes Blog: Highmark Auction.
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
In March, there will be an auction of some high-end condos near the base of the ski area. These condos were built in 2006 but barely used and will come fully furnished The word is that price per square foot will be around $420-500/sf for starting bids.  If you have cash, want to be steps away from the base area and amenities this is something worth looking into.  I can register you and give you more details. Other projects in the area are getting $800-1300/sf.    angela@yoursteamboathome.com
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
(Ok, this is cheesy but our Olympic send-off downtown was pretty awesome. Steamboat's version of the torch!) There are some notable things worth mentioning this week in real estate. Bruce Carta of Land Title provided some summary numbers of sales in One Steamboat Place, Wildhorse Meadows/Trailhead Lodge and First Tracks and Edgmont as of Feb 1st, 2010. One Steamboat Place: $27 million in sales of whole ownership avg $3.375/unit. Fractional Ownership sales of $26 million avg $459k per transaction. Wildhorse Meadows: Trailhead Lodge - $22 million in sales avg $851k/unit. FirstTracks $3.5 million average $256k/unit. Edgemont: $30million in sales avg  $2.3/unit. This is good news for the vibrancy of the market. We are still seeing cash buyers entering the market for  some outstanding values...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
Trappeurs Crossing saw a successful sales year in 2009. Two of the lodges within Trappeurs Crossing, 'Bear Lodge and neighboring Emerald Lodge accounted for nine luxury condominium sales between $1 million and $1.5 million in the first 11 months of 2009...That number represents about 40 percent of the condo market in that price niche before One Steamboat Place and Edgemont set off a flurry of sales in December.' One of the main factors driving the success of Trappeurs Crossing is the location. Only a short shuttle ride away from the base of the mountain, Trappeurs Crossing is not a ski-in/ski-out unit like newly developed One Steamboat Place or Edgemont. Offering similar, luxurious accommodations at about $650 per square foot, Trappeurs is a more affordable option for those still inter...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
Edgemont luxury condos are nearing completion and getting many excited for their upcoming vacations in Steamboat Springs. A new, ski-in/ski-out residency, Edgemont is located 200 meters above the base of the gondola, giving people the ease of waking up in the morning and skiing out their front door. Below is a picture of the interior of one of the units, beautifully furnished in a contemporary, western theme. The pool features views the extend from the ski area behind you to the valley below.  
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
A recently completed community in Steamboat Springs, Wildhorse Meadows is new luxury residency at the base of the mountain. While not directly ski-in/ski-out, Wildhorse Meadows completed construction on a new pulse gondola only 2 weeks ago. Adding a new gondola to the mountain, this community has helped change the flow and structure of the base of the mountain with community members now able to reach the parking lot an alternate way. The community itself is comprised of varying types of residencies. The beautifully designed Trailhead Lodge, a facility of luxury condos, sits alongside First Tracks and The Range. These two divisions within Wildhorse Meadows offer the location for affordable condos, and lots to build and design your own residencies respectively. For more information on Wil...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
The Highmark is a newer walk-to-ski luxury development in Steamboat Springs, CO with 15 luxury condos set to be auctioned off on March 12th.  (The original date was March 4th).  The Highmark is located across from the new One Steamboat Place and Market on the Mountain at the corner of Village Drive and Apres Ski.  One of the Highmark condos will be sold without a reserve (most likely one on the second floor with limited views), although most have a reserve price that needs to be met. In addition to the auction, there is a top floor Highmark penthouse that has been foreclosed on and is currently listed at $1,500,000, or more than 50% off the original purchase price of $3,200,000.   The sale of this condo is unrelated to the auction and could be a very good opportunity for a buyer.  This ...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
Steamboat  real estate sales follow the same ups and downs of most Colorado mountain towns, and a recent article in the New York Times entitled, “Skiers Buy Vacation Homes as Prices Fall” highlights some of the trends going on in our Steamboat market and the general Colorado resort market. Real estate buyers who stayed on the sidelines while prices went up now have cash to spend and are looking to buy.  Most Steamboat buyers want deals and are making offers lower than asking price, although sellers aren’t necessarily accepting the offers. Steamboat real estate buyers now have the ability to choose from a large amount of inventory (including some homes that have never been on the market), motivated sellers that either want or need to sell, and some of the best prices in years. Trade up b...
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By Eliese Pivarnik, CRS, GRI, ABR, RSPS, Colorado Group Realt
(Colorado Group Realty, LLC)
  Steamboat Springs, Colorado's much-anticipated ski in, ski out condominiums opened at the beginning of the 2009-2010 ski season.  Here is the latest information as of February 1, 2010 for the # of closings and average sales price at One Steamboat Place, Edgemont, and Trailhead Lodge. One Steamboat Place– The whole and fractional ownership condos at One Steamboat Place at the base of the Steamboat ski area are decorated in a contemporary mountain style.  If you are looking for one of the most luxurious, full service private resorts in Steamboat, you need to see One Steamboat.  The on-site spa, fitness area, market, restaurant, pool, reciprocity with other resorts make OSP the place for second home owners looking for an active, social environment where you’ll find everything you need on...
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
Kid on skis being pulled by horse down Mainstreet Steamboat!   Fireworks on Howelsen Hill Sat night. Special feature Lighted Man! Crazy Fun This is by far one of the most fun weeks you can spend in Steamboat Springs.  The near century old Winter Carnival begins this week and even more meaningful as we have an Olympic Send-off on Friday! We are a town proud of our Olympians and for a very good reason...a lot of them train here and/or were born here.  Where else do you get to see a mainstreet shutdown with snow brought in, wild west horses, kids begin pulled on skis, the only marching band on skis and a man that skis down a hill shooting off fireworks from his body? If you live on the front range, you can still find a room and if you are interested in real estate I will be in town too to...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
The overall trend of real estate sales in Routt County continues to look positive with the release of December’s sale numbers. The sales volume was just over $83 million for December, finishing as the second highest month in 2009. With both the sales volume and units sold at levels that were 200% better than sales in December of last year, the market appears to be heading in the right direction. Notable were the 6 sales in the new Edgemont development, which averaged over $2 million each. The chart below is a quick look at the overall sales volume over the past 7 years. As can be seen from the 2009 figures, the end of this year has picked up significantly. For more in-depth charts and figures on the past years financial growth in Routt County, please contact me at jon@mybrokers.com.  
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By Angela Ashby, RE/MAX Partners, Steamboat Broker Associate
(RE/MAX Partners)
As the snow falls, so do the prices! Great opportunities cropping up every week. My favorite, "Over the Edge" is still on the market. Steamboat's most unique ski-in ski-out property listed at $7.995 million. Boulder Ridge lots available as low as $379k. Incredible views located off Fish Creek Falls Rd.  Charming home with acreage for under $1million, located on Angler's Drive (one of my favorite spots in Steamboat!) Condos under $200k! Winter Carnival and Olympic send-off fast approaching so make plans. We should have some great snow for your visit. To get a jump start on the Steamboat real estate market send me an email and we can get started. angela@yoursteamboathome.com Real Estate transactions for Jan. 19 to 21, 2010 http://www2.steamboatpilot.com/news/2010/jan/24/real-estate-transa...
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
A newly opened luxury development in Steamboat Springs, Colorado, One Steamboat Place opened their doors to guests at the beginning of January. This new ski-in/skl-out out community sets a new precedent for luxury lodging in Steamboat. Some of the amenities included are a 10-treatment room Spa, fitness and motion studio, a heated outdoor pool and trio of Jacuzzis, daily housekeeping, 24-hour concierge service and an Owners’ wine cellar. The units themselves are beautifully furnished, blending urban influences into the traditional feel of a western ski condo. For more information on the see One Steamboat Place 
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By Jon Wade, Steamboat CO Real Estate
(The Steamboat Group)
Living in a resort community a substantial part of the economy is driven by tourism and the success of Steamboat Ski and Resort. News came yesterday that a public notice of foreclosure was posted by Intrawest’s lenders, stating the auction to sell Intrawest’s assets will be held on February 19th. Whether this will proceed according to the lender’s notice, will only be told in the coming weeks. Intrawest is the current owner of Steamboat Ski and Resort. The Lehman Brothers along with Kempner Capital Management are Intrawest’s primary creditors. After Intrawest missed the latest payment of $524 million, on a $1.4 billion loan, the lenders posted the threat of auction. Intrawest’s owner, Fortress Investment Group, stated yesterday that they continue to own and control Intrawest and all of ...
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By Steamboat Sotheby's International Realty
(Steamboat Sotheby's International Realty)
A new study conducted by CEOs for Cities, a group of urban redevelopment advocates, has shown a direct correlation between above-average walkability and home values. Neighborhoods located in more walkable neighborhoods, those with a mix of daily shopping, parks, schools and social destinations, command a price premium over similar homes found in less walkable areas. Using the online walkability rating engine (www.walkscore.com), the Olympian earns a scores of 91 out of 100 - designated as a "Walker's Paradise." The criteria that are used to define walkability seem to be drawn from downtown Steamboat natural attributes: A center: Steamboat has an easily discernable center which includes a plethora of shopping, dining, and public spaces. Density: The compact nature of downtown Steamboat, ...
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By Steamboat Sotheby's International Realty
(Steamboat Sotheby's International Realty)
Through economic undulations the opportunity to "get more bang for the buck" is a clear message in the Steamboat Springs luxury real estate market. Properties that once averaged close to $800 per square foot are now below $499 per square - all finished with the finest in detail throughout. Several of these homes are actually below replacement costs. The costs associated with creating these elegant masterpieces far exceeds certain opportunities floating around the high-end market. In the past few years, homes located in the highly coveted Steamboat Sanctuary were very hard to come by. Today, buyers have their pick of the litter in this ideal location. And if you don't see what you are looking for - now is the time to ask for it. The art of negotiation is alive and well in the real estate...
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